Chariot Resources’ Greatpower Funding Deal Lapses as Lithium Talks Continue

Chariot Corporation Limited ( (AU:CC9) ) has shared an update.

Chariot Resources Ltd has confirmed that a planned A$1.425 million strategic equity investment by Jiangsu Greatpower NexEnergy Technology, an affiliate of Shanghai Greatpower Nickel & Cobalt Materials, has lapsed after Greatpower failed to secure required Chinese outbound investment and foreign exchange approvals by the 15 April 2026 deadline. The lapse of the subscription agreement occurs without liability to either party, but it removes a previously flagged funding source for Chariot’s growth plans.

Despite the termination of this specific deal, Chariot is continuing to work with Greatpower on broader commercial opportunities and is actively courting other potential offtake partners to support development and financing of its Nigerian lithium project portfolio. The company is currently hosting site visits and advancing technical work at the projects, although no definitive agreements have yet been signed, leaving future funding and offtake arrangements still uncertain for stakeholders.

More about Chariot Corporation Limited

Chariot Resources Ltd is a mineral exploration company focused on discovering and developing high-grade, near-surface lithium deposits in the United States and Nigeria. Its core U.S. assets are the Black Mountain hard-rock lithium project in Wyoming and the Resurgent claystone lithium project in Nevada and Oregon, complemented by pipeline projects and an interest in Mustang Lithium. The company is also in the process of acquiring a large Nigerian portfolio of hard-rock lithium assets across four project clusters in Oyo and Kwara states, covering about 254 square kilometers and featuring a history of artisanal lithium mining.

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Technical Sentiment Signal: Sell

Current Market Cap: A$19.06M

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